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date and you can kiss our economy good-bye. because we will all be going over -- >> that fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> that dreaded fiscal cliff. >> stephen: yes, the dreaded fiscal cliff. an unavoidable money will technology the razor-sharp financial rocks below. it all started back in 2011 during the showdown over raising our debt ceiling when republicans wanted spending cuts and obama wanted to raise taxes. which led to a budget crisis that congress solved by not solving it. (laughter) instead, they handed it over to something called "the supercongress" which couldn't fail because it was super. (laughter) unfortunately it was also congress so it failed. (laughter) and as a result -- (applause) as a result -- (applause) as a result, folks, we are facing another thing called sequestration which at first sounds like rationing the amount you can watch "sea quest." (laughter) but it's even worse than that. (laughter) sequestration is automatic spending cuts that both sides agree would trigger a new recession. it's like congress put a gun to the economy's head and sw
-800-743-cnbc. maybe it just doesn't matter, maybe the stock market stays buoyant because the fiscal cliff buoyant because the fiscal cliff buoyant because the fiscal cliff buoyant because the fiscal cliff buoyant because the fiscal cliff buoyant because the fiscal cliff buoyant because the fiscal cliff is not that big of an issue. maybe that's why the averages once again refuse to drop dramatically, the dow falling 60 points. despite the obvious impasse i saw firsthand when i appeared on "meet the press" with david gregory this weekend, i know i've been interpreting the market's relative success through a difficult period. success is defined by no huge hammering like we had during the debt ceiling crisis as a sign that either perhaps people didn't understand what awaits them -- no no! or that there might be a deal on the horizon to avoid the fiscal cliff, the fact that the republicans put out an offer, like their old offer before the president won re-election, it does feel like the two sides are talking, but they appear to be talking past each other. the clock is really ticking in washing
the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to the book in a moment. based upon the motion -- that notion, why might the fiscal cliff be a good thing? >> we have been stuck for four years in a state of complacency. nobody wants to do anything about the accumulating problems. everybody knows about the problems. i think the civilization is masking deeper problems. if you let markets give you information, they will give the information. other than artificially prop up everything, like having the federal reserve control prices. this is not a long-term sustainable situation. what i think should happen is -- you would rather fail early than fail late. tavis: i'm trying to understand where the li
. . >> sean: the cost of president obama's arrogance could be off the fiscal cliff. he is deeply liberal, deeply ideological, reckless, irresponsible and no interest in seriously negotiating with the republican party and he's now putting partisan politics ahead of what is good for america. even the "washington post" is calling him out saying he has no intention to negotiate. writing: >> sean: let me repeat, the offer lacks any concessions. if you want the most recent concrete evidence of how irresponsible president obama is, you need look no further than his opening bid in budget talks. the proposal awd to republicans late yesterday courtesy of tax cheat geithner calls for the following: 1.6 trillion dollar tax increase, increasing rates on incomes over $250,000. 150 billion dollars in new public stimulus spending of which 50 billion would be spent next year. another extension in unemployment benefits, 30 billion. new power to raise the federal debt limit without congressional approval. in other words, an obama blank cheque. that is not all. he also wants the estate tax to be levied at 4
is warning republicans not to use the fiscal cliff as a borrowing limit. both sides seem to be digging in their heels with no move to avoid the fiscal cliff. fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes not by raising rates own the wealthy as the president has demanded. >> we're not insisting on rates out of spite but rather because we need to raise a certain amount of revenue. >> we can't keep borrowing mown and raising taxes and expect the problem to go away. >> with no solution in sight the white house budget is now ordering the pentagon and other an an jencies to finalize their plan to avoid massive spending cuts. >> secretary of state clinton says nato's decision missiles to turkey sends a clear message that tour ski is backed by its allies. the big concern remains an increasely desperate assad regime will turn to chemical weapons as rebel fighting rages on. the u.s. and its partners are looking to apply additional pressure on at a conference next week. the regime insists they would not use wea
. the peabody people are watching i'm ready to submit. what's everybody talking about? >> the fiscal cliff. >> stephen: fiscal cliff, yeah. >> trillions of dollars of spending cuts and tax increases that are going to happen when the ball drops on new year's eve unless president obama and congress come to some sort of compromise. >> stephen: all right so, we're all doomed. >> it's like the movie thaw you have to either cut off your arm or die. so they will come-- they will cut off their arm. >> stephen: do you know, do you know what kind of ratings the news could get if they could get politicians to cut off their arms on camera? okay. -- (cheers and applause) >> stephen: as i said senior white house correspondent for abc news. the only news anybody watches any more. >> i think that's true. >> stephen: and you have got eye new book here called the outpost, an untold story of american valor. this is about the war in afghanistan. >> it's about one combat outpost in afghanistan, 14 miles from the pakistan border, built at the bottom of three very steep mountains, built in 2006. and overrun in 2
. but maybe we get through the fiscal cliff, but then another fiscal cliff comes, that's the whole point of this. >> in fact, and there was a proposal this week to try it get rid of the fiscal cliffs and no longer give congress full power to extend the debt. but i think, i'll tell you what, i'm kind of curious to see the other guys, i think we're going over the fiscal cliff because i thk that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they're scaring erybody about this, like we've got to keep pushinon or the world is going tond and it's not as bad a the politicians are pretending it is even. look, it's not a good thing, but psyched into a level and it will be worse than the real effect of having the tax increase on the government level and that's the danger, using it as a tool to
-called fiscal cliff if taxes are not raised. >> the administration prepared to go over the fiscal cliff? >> absolutely. there is no prospects in agreement that doesn't involve the raise going up on the top 2 percent. >> house speaker bane another a boehner and president obama have been talking by phone. not much progress was made. boehner says if he doesn't agree with the propose sal he has obligation to submit one of his own. >> the missing girl battling leukemia is safe and is being treated in new mexico. she was taken out of a hospital in phoenix. her mother took her. doctors are worried she could potentially get a deadly infection. the girl's father claims the hospital was to blame for a different infection which cost emily her right arm. he's refusing to tell police where she is in mexico. both parents could face criminal charges. >> shock, disgust and fear spread quickly on the campus of the university of -- one details the exact moment they realty lied they were in a major crisis. it reads subject emergency the shooter at the aurora mall last night was james holmes i am worried a
by headlines regarding the fiscal cliff. > what is your reaction to a lawmaker who wants to put an extra tax on high-speed trading? what do you think about that? > > i think it is short- sightedness. i don't mean that as any real criticism, but when you look at it, they really want to arrest the problem. it should really be on cancellations. the speed of trading isn't- in my opinion, isn't really the issue. speed should be competitive and whatnot. as long as everyone has the same fair advantage to that, i think that's what the key is. putting a tax on a broad level, saying this will fix all, i think there would be so many unattended consequences as a result of that and what it opens the door for, i just think it is totally counterproductive and really not the solution. it's a hair trigger. > thanks for your thoughts today. good to have you on the show. have a good one. > > you too. president obama heads to philadelphia today to visit a toy manufacturing plant. it's where he will also talk about his plan to avert the so-called fiscal cliff. comments yesterday from house speaker john bohener h
the panelists together. [applause] >> looking at very aspects, dealing with the so-called fiscal cliff and today we're going to turn our attention to expiring tax credits that could families and businesses adjoining the sort that discussion is stephen sloan, to start with, could you define frat a tax credit is and how that differs from a taxom deduction? >> guest: post-credits and deductions are used to lower somebody's tax bill. they credit lower somebody's tax bill dollar for dollar. if you say you have the $1000 tax credit come your tax lowere, -- basically a reduces taxable income, so it takes the taxable income off the top. if you have a $1,000 tax deduction, that is basically a to under $50 deduction -- $250 deduction. host: on their tax credits that specifically affect families? guest: some that have expired that are part of the fiscal cliff package. they get much less attention than the bush tax cuts. they are part of the packet of decisions that congress has to make. host: we can go into debt but to highlight four --th let's start with the child tax credit. what is it? guest: this is a
and we're starting this hour with the wrangling on capitol hill over the fiscal cliff. we're just 31 days until the deadline which could potentially trigger $7 trillion in automatic spending cuts and tax increases. both republicans and democrats are at a standoff. they are each blaming the other side for holding up the process, but republican congressman terry lee says that by going over the cliff the president may have an ulterior motive. >> many of us fear that the president's real plan here was to let us go over the cliff and blame the republicans, and that's what we look like we're being set up to do, and then if you go over the cliff, then two months later, a month later, the president can come back with a bill and say, hey, we're going to now since the republicans let everyone's taxes go up, i'm going to ride in here now and be the -- the knight in shining armor and lower the taxes on the lower two brackets. >> it is a case that is sparking painful reminders of trayvon martin, another florida teenager shot to death in an incident that has racial overtones. i'm talking about jordan d
of the screen. we have lots more in the show. twenty-six days until we fall off the fiscal cliff. is that what democrats want us to do? pictures seem so. we go live to capitol hill in 10 minutes. while congress talked about wanting to cut excess spending, the numbers may tell a different story. i will break it down coming up next. ally bank. why they have a raise your rate cd tonight our guest, thomas sargent. nobel laureate in econocs, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise ur rate cd. ally bank. your money needs an ally. gerri: where would we be without senator tom coburn? without the oklahoma taxpayer dollars? this fellow brought us this image. your member this? the shrimp on on the treadmill. does anyone have? @%e national science foundation studying the effects on disease. they decided to do this, and they spend 500,000 taxpayer dollars doing this study. if you can get scientists to waste money, the senator is back with another study. this time uncove
many days are left until the fiscal cliff deadline. but lawmakers are squaring off with each side accused of giving each side a deal. here's house majority leader eric cantor. >> what we will do is take this as a serious matter. we are interested in trying to solve the problem for the american people so that we don't see taxes go up on anybody so that we can engage in tax reform and get this economy going, again. >> democratic senator max baucus says congressional leaders and the president need to get to work on negotiations right now before the u.s. enters unchartered waters. >> i think if there's no agreement, whatsoever, if the other side is completely that the president has probably no choice but to say, okay, we're going to go with a cliff. that would not be my first preference. >> should that happen, should we go over that so-called fiscal cliff republican congressman lee terry thinks there could be an alterier motive on the part of the president. >> many of us fear that the president's real plan here was to let us go over the cliff and blame the republicans and that's what
that forecast, lawrence. >>> a positive sign in the "fiscal cliff" negotiations. president obama and house speaker john boehner have spoken on the phone. the president also met yesterday with ceos of some of the nation's largest companies hoping to convince them of the need of higher tax rates on upper income americans. >> we are not insisting on higher rates out of spite or bickering but, rather, because we need to raise a certain amount of money. >> house majority leader eric cantor echoed of thoughts of his fellow republicans saying more needs to be done about spending. >>> the colorado movie theater where a gunman opened fire during the latest batman movie will finally reopen next month. aurora's mayor says the cineplex will open to the public on january 18. movie theater plans to run free movies for the first couple of days. you may recall 12 people were killed, 58 others injured, when holmes allegedly james holmes opened fire allegedly in july. >>> same-sex marriage is legal in washington signed into law last night by the governor. dozens of people got marriage licenses at the courth
described the pace of progress on avoiding the fiscal cliff. we discuss where the talks stand with a top democrat, senator kent conrad of north dakota. and the glitter of silver-- it's up over 20% this year. we go digging for the outlook on precious metals for the year ahead. that and more tonight on nbr! the path away from the fiscal cliff is neither straight nor smooth. talks hit a snag today as both republicans and democrats traded verbal fire over who goes first. republicans said they'd offered up new tax revenues, but have heard nothing from democrats about spending cuts. democrats said republicans were dragging their feet. we begin with darren gersh reporting even a visit by treasury secretary timothy geithner did little to change the mood on capitol hill. >> reporter: house speaker john boehner emerged from his sit- down with the president's negotiating team to declare he was disappointed. two weeks after the election, the speaker said democrats have yet to show what he called "adult leadership." >> right now, all eyes are on the white house. the country doesn't need a victory lap
. that and more tonight on nbr! the path away from the fiscal cliff is neither straight nor smooth. talks hit a snag today as both republicans and democrats traded verbal fire over who goes first. republicans said they'd offered up new tax revenues, but have heard nothing from democrats about spending cuts. democrats said republicans were dragging their feet. we begin with darren gersh reporting even a visit by treasury secretary timothy geithner did little to change the mood on capitol hill. >> reporter: house speaker john boehner emerged from his sit- down with the president's negotiating team to declare he was disappointed. two weeks after the election, the speaker said democrats have yet to show what he called "adult leadership." >> right now, all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they are really willing to make. >> reporter: that's not how the white house sees it. the administration called the republican position that tax rates sho
to watch the fiscal cliff. trading action has resolvolved around this. ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market debt. these monetary authorities are done tightening. they fought the inflationary problem that they had successfully. they're in hoed. yield curves could shift down. we stress doing it in local currency. the other areas are u.s. high yield, which i still think is valuable. we do think spreads will contract and emerging market equities as well. >> jordan, what about you? how are you preparing for what could be an eventuality where we go over the cliff and we've got to deal with higher taxes and a slower economy? a lot of people expec
we are on the fiscal cliff. it's another day of fiscal cliff turns on wall street. >> yes, it is. welcome back. i'm bill griffeth. we're going to get to those wild statements out of washington in a minute. you can see when they happen when we show you today's chart. speaker boehner's comments pushed the market lower. then other comments brought them back a little bit. the dow is up just 45 points right now at 13,030. the nasdaq also trading higher today. last i checked, it was up 21 points. there it is at 3,013. that's about the high for the session. the s&p is up about seven points at 1416. >> a bit of a roller coaster ride today after fiscal cliff comments from both parties. >> eamon javers on capitol hill is following the drama, which changes moment by moment. >> absolutely, bill. it's been a bit of a roller coaster ride, as you say, on capitol hill with duelling press conferences today. follow along with me here on what each person said from each party and how that impacted the market, starting with speaker john boehner. here's what he had to say early in the day. >> despite
's safer to go over the fiscal cliff. >> do the democrats secretly want to plunge over the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion dollars. the white house responded to this letter by saying that the president is, quote, willing to compromise but not on the subject of making job creators pay more in taxes. however, what our tax and spend commander-in-chief fails to understand is that putting money into the hands of you, the american people, is the single best way t
of the white house and congress to resolve differences that would avoid the fiscal cliff. that is $1.2 trillion in automatic budget cuts and $600 billion in tax hikes that would result from the expiratin on december 31, te consequences would simply be devasting. the economic impact on the country and the american people would mean the loss of hundreds of thousands, if not millions of jobs. e very likely onset of yet another recession. the white house timothy geithner on capitol hill today. he went there empty-handed to meet the party leaders. house speaker john boehner who has already offered to raise tax revenue finds himself not in a negotiation, but rather competing in the white house media campaign. this is how speaker boehner reacted earlier today to the demands of the white house that were laid out by timothy geithner in a closed-door meeting. the treasury secretary reiterating the president's call for $1.6 trillion in new tax revenue and timothy geithner rrently offering nothing in return. in lieu of federal pending. >> first, despite the claims that the presint supports a balanced appro
's at least get over the psychological hurdle of the fiscal cliff. move on, and put some bandaid together and then hopefully, the next group in there, minus obama, starts to cure this four years from now, because nothing's going to happen in the next four years good. but maybe we get through the fiscal cliff, but then another fiscal cliff comes, that's the whole point of this. >> in fact, and there was a proposal this week to try it get rid of the fiscal cliffs and no longer give congress full power to extend the debt. but i think, i'll tell you what, i'm kind of curious to see the other guys, i think we're going over the fiscal cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they're scaring everybody about this, like we've got to keep pushing on or the world
>> i am melissa francis. >> i am lori rothman. so much for progress on the fiscal cliff talks. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress. melissa arizona is the latest state to refuse the exchange. we will bring on judge andrew napolitano to talk about this one. lori: "time" magazine announcing it candidate for person of the year. wait until you hear who the candidates are. we will handicap the list with lou dobbs. melissa stocks as we do every 15 minutes. nicole petallides standing by. stocks are losing sseam as house speaker john boehner took the podium although they have recovered a bit. nicole: is difficult to monitor which way and guess which way the market will go as each headline process crosses, we'reg the market being star
on vacation without the notion. the fiscal cliff glasgows from being half full to half empty that's where we want it, and once it's half empty, it's much more immune to disappointment. that's because those hoping for a deal will be gone. checked out, sold. replaced by three types of strongholders. get this. first like when the debt ceiling was raised. a move that countered for a huge chunk of the markets. these people believe that some kind of deal is inevitable. they think selling now is tantamount to giving up the bottom. the second set. they feel it won't have much of an impact on the economy. they believe we won't go into recession and the whole thing is over, done. mellow drama even. they think fearmongers. and this is their group of strong holders. a little time passes, they think, hey, should be better off going over the cliff. rich will pay more of their fair shares and higher taxes on dividends. government spending sliced where it should be and and the bloated defense budget. unnecessary social programs. me? i think we aren't where we need to be yet when the it comes to abandoning a
across the board. joining us now to talk fiscal cliff and ramifications for all of us around here in the d.c. area, virginia congress member gerry connolly, a democrat representing annandale, parts of prince herndon county, fairfax, welcome, sir. we know the arguments by now, very familiar. the president wants to cut off the tax cuts for everybody making over a quarter million. john boehner and the house republicans would rather see deductions and hoop holes closed. why are you? are you with the president wholeheartedly on this? >> well, i certainly agree with the president that we need to let the top tax bracket expire. he ran explicitly on that. there weren't a lot of explicits in this presidential campaign, but that was one of them. i think it ought to be open to negotiation what the income threshold is. the president laid out 250. i think there's maneuverability there. i think that's probably too low. >> is there maneuverability on the percentage? could it be 37 or 38? >> i think he has signaled that he's willing to negotiate on that, but the republicans have simply said no ta
end of the day, down 63 points. more on the republicans' counterproposal on the fiscal cliff coming your way as we get under way with the second hour of the "closing bell" with maria bartiromo. i'll see you tomorrow. >>> hello, 4:00 on wall street. do you know where your money is? welcome back to "closing bell." i'm maria bartiromo on the floor of the new york stock exchange. happy monday to you. this market beginning the new month lower as the gop today puts out a counteroffer on the fiscal cliff. take a look at how we're finishing the day on the wall street. dow jones under water with decline about 60 point. 12,966. last trade on the index. nasdaq gave up some ground today, to the tune of eight points finishing at 3002 on the session. and the s&p 500 down 6.70 points at 1409. >>> december a historically good month for the markets. the s&p has risen 8 of the past 1 years in the final month of yeert. with fears of the looming fiscal cliff, can the trend continue? we're bringing in mike from yahoo! finance and cnbc and yahoo! have a business alliance to share and co-produce editorial
secretary headed to capitol hill for fiscal cliff negotiations. as for bloomberg silicon valley index, it ended up, as well. getting back to daily deals, there is a business that is troubled and another company, living social. it just laid off about 400 employees, roughly 10 percent of its total work force. this comes after amazon took $169 million write down last quarter in it's stake. >>> we've seen scattered showers throughout the day but only the beginning of what is to come. >> some in is little bit of a lull. >> absolutely. that is going to spell trouble. winds over the higher terrain, gusting 40-50 miles an hour. here is a live picture. you can see a wet and windy scene there. the vein steady in the north bay. i want to show you live doppler 7-hd. you will see it's pretty widespread. let me take you in closer and shoe you where it is range from ukiah down to cloverdale. the rain ahead of the storm down to street level. river road, fountain grove parkway, rainfall right now but it's light. stronger winds are coming for the morning. rain continues on saturday and stormy condition
after discouraging words from washington on the state of the fiscal cliff. this time it was house speaker boehner speaking with reporters after meeting with treasury secretary tim geithner. eamon javers is in washington with the latest. eamon, the sentiment down here is these guys should stop talking and start crafting a deal. >> reporter: that's the sentiment here in the hallways of capitol hill as well, sue. i can tell you that. we are starting to get a little more clarity on what's going on here today. i just had the chance just a few moments ago to button-hole senator harry reid here in the hallway, asking him a very specific question. i said did treasury secretary tim geithner come up here with a new specific offer for republicans? is that what he laid down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains a little bit of why we
to be a humorous way on get people thinking about the fiscal cliff. boy, this is one of the most egregious things i have seen in a long time. hopefully it is not meant for the kids, please tell me. >>guest: this is child abuse. of an epic scale. the narrator is ed asner. how many millions do you think he has? does he care about kids and the other 1 percent don't? this is democratic party promise gain. the teaching union is the heart of the democratic party. this is, in particular, is a teacher union in which poor black and hispanic kids in los angeles and ok land and san francisco school systems are being denied a good education by this very union. they will go on strike if you try to connect performance with reward. half the children in the schools, poor black and hispanics whose parents can not afford to put them in private schools which is what everyone else is doing, half of them drop out before they graduate. what of the ones who graduate are functionally illiterate. they will never get a decent job. >>eric: david, let's stay on the video. the teachers union puts this together and in the video
combination of tax rate increases and spending cuts now known as the fiscal cliff. >> jon: oh, yeah, that, that was-- (laughter) ladies and gentlemen, the fiscal-- cliff. >> it's the subject of tonight's cliffpocalypsema get-- mageddonocaust, our nation's solvable budget problem. (laughter) (cheers and applause) >> jon: i actually hurt my shoulder just there. it's like i'm 50. so we're now just a little more than a month away from going over the fiscal cliff which is, of course, as we all, what is the fiscal cliff again? >> a toxic combination of spending cuts and tax increases that kicks in at the beginning of next year. >> on january 1s its bush tax cuts will eck prior within the alternative minimum continuation would quick in, hiking taxes for more than half married couples with two children. the payroll tax cut was also expire. >> emergency unemployment benefits end, and 984 billion dollars in the automatic cuts in both defense and domestic budgets are triggered. >> it very likely that we're all going die. >> jon: why did they put that last provision in. see, here is what happened. tw
the white house budget office is telling federal agencies to do if there is no agreement on the fiscal cliff. we have dedicated our entire news department to track this story and be ready with alerts on the air and on the web. every day we feature stories that will show you how you will be affected if the federal government does go over that fiscal cliff. you can get alerts sent straight to your phone about the fiscal cliff on our cliff notes by texting "the cliff" to 25543. >>> our time is 4:31. intelligence officials in pakistan say three suspected militants were killed in a u.s. drone attack. in the last few months, american officials have privately admitted the strikes have killed several al qaeda and taliban commanders. >>> three people were killed overnight in clashes in egypt. supporters of president mohamed morsi battled protesters outside the palace. demonstrators are trying to stop a referendum on the new constitution. the constitution was written by conservative supporters of morsi without contribution from liberal legislators or religious minorities. >>> there has been a signific
the fiscal cliff anymore you might throw yourself off a cliff. here goes the republican again. they decided we'll go with the transition again. >> without spending cuts and entitlement reforce it's impossible oh address the fiscal crisis. >> cenk: we're busting their ass up today. i'm going to show you what they said before the election and what they said after. you'll love that. >> here come the people, man strikes and more strikes. now, fast food workers in new york starting to strike. >> i've been working at mcdonald's for 10 months right now. >> i've been working at wendy's for a year and two months now. >> cenk: i'm going to show you how much they're getting screwed. you want to talk about surprising news? here comes big foot! >> i was a skeptic. i did not believe these things exited at pull. they live right under our noses and we were never able to get proof of this until now. >> cenk: is it real? there's some real evidence. we'll talk about it on the show. in the end, of course, the did you meanest republican in the country within the show. who is it? gomer! you're going to love his
of the senate. the two parties first sat down to discuss the so-called fiscal cliff, it was widely assumed among republicans that president obama and democrats actually wanted to avoid it. that was the premise that any possible agreement had shown. that was the common goal, or so we thought. over the past couple of weeks it's become increasingly clear to many of us that we were simply wrong about that. incredibly, many top democrats, including the president, seemed perfectly happy -- perfectly happy -- to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. and it explains why the president is now stubbornly insisting on raising tax rates when he himself said just last year that you could raise more revenue from capping deductions and closing loopholes. this isn't about the deficit for them or balance. it's about an ideological campaign that most americans thought would have ended on november 6, and that's also why the president sent secretary geithner up here last week with a proposal so completely ridiculous it wouldn't have
developments out of the region, but first tonight, urgent developments on the fiscal cliff show down. tim guy ne geithner announced of of the white house that we would, quote, absolutely go over the fiscal cliff which would trigger tax cuts and spending increases unless taxes increase on the top two percent of wage earnings. >> i want you you to understand when it comes to raising taxes on the wealthy. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the president is playing a very dangerous game of chicken and this is with your paycheck and the american dream. meanwhile, the republicans have allowed themselves to get caught in a circular firing squad. they're negotiat
on wall street modestly higher today i did spite no sign of a deal on the fiscal cliff. take a look how we're settling out this thursday afternoon on wall street. the industrial average at 13,074. the s&p up just a fraction. will the markets get a boost from another cash infusion? ben pace says he's expecting the federal reserve to announce another round of stimulus at the meeting next week. is that what the markets really want right now? ben pace joins me along with chris heize and rick santelli. ben, let's talk fed policy. you think the fed announces qe-4 next week? >> i think it's the fact the twist operation is ending at the ends of the year, and they don't feel compelled to incrementally tighten that. that means it has to be replaced. that's the qe-4, the fact they'll continue to buy to continue to be just as easy as they've been since the september 16th qe- 3 announcement. >> so you think it's a continuation. what's the impact on the market, do you think? is it priced in? are we expecting that? what do you think? >> i think it's generally priced in. the thing that concerns me the mos
: the government creeps closer to the fiscal cliff with orders for the military and others to start preparing for the worst. this is "special report." ♪ ♪ >> bret: good evening. i'm bret baier. the country plays the waiting game to see if country and the president take the economy off the fiscal cliff, president obama says he will not play the debt ceiling game again. but he is taking a few more shots in the public relations game. turning the screws on republicans, a little bit more. chief white house correspondent ed henry starts us off tonight. >> reporter: finally the blame for stalled budget talks on republicans, president ratcheted up the lesh on john boehner. >> no one wants to have this done more than me. >> reporter: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if
left to stop the u.s. from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sandy, and i feel like i need to do the ground work
at the new york stock exchange. as we hurry toward the edges of the fiscal cliff, this market holding its breath. but holding up. >> yes, so far. technology one of the few bright spots with apple rebounding after that huge decline we saw yesterday. its worst day in four years. it's got everybody on wall street scratching their heads trying to figure out what the problem is with apple. at any rate, here's where we stands right now. sort of a meandering day for the markets. some economic data out this morning. the market responding to that. then a sideways move after that. the nasdaq benefitting from the rebound in technology yesterday. up 11.5 points on the thatnasda. the s&p is also trading higher. there it is. up 2.5 points on the s&p. >> meanwhile, bullish sentiment at an eight-month high right now. equity allocation is still at the lowest level of the year according to the american association of individual investors survey that was out this weekend. stock in a wait-and-see mode. totally understandable until these fiscal issues are resolved. >> but don't just sit on your hands. there i
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